Amalgamated Bank Acquires 5,182 Shares of Robinhood Markets, Inc. $HOOD

Amalgamated Bank lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,886 shares of the company’s stock after purchasing an additional 5,182 shares during the quarter. Amalgamated Bank’s holdings in Robinhood Markets were worth $3,828,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HOOD. Hantz Financial Services Inc. boosted its position in shares of Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares in the last quarter. Hemington Wealth Management boosted its position in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $30,000. Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $33,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of several analyst reports. CICC Research initiated coverage on shares of Robinhood Markets in a research report on Monday, October 27th. They set an “outperform” rating and a $155.00 price target on the stock. Cantor Fitzgerald increased their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Zacks Research lowered shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Barclays raised their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Citigroup raised their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.10.

Insider Activity

In other news, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,352,523 shares of company stock valued at $397,678,326. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $146.78 on Monday. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The firm has a market capitalization of $130.44 billion, a P/E ratio of 74.51, a P/E/G ratio of 3.81 and a beta of 2.42. The company’s 50 day moving average price is $126.98 and its two-hundred day moving average price is $96.99.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.